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Exro Technologies Learns of Threatened Lawsuit

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CALGARY, AB, Nov. 27, 2024 /CNW/ – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the “Company” or “Exro”), a leading clean-technology company that provides proprietary motor-control and complete electric propulsion system technology for e-mobility, has learned of a threatened class action lawsuit in respect of which a statement of claim has been filed in the Court of the King’s Bench, Alberta. Exro has not yet been served with the statement of claim but anticipates this will happen shortly.

The claim is a proposed securities class action on behalf of the investors who purchased the securities of Exro in the secondary market or the primary market between January 30 and November 13, 2024 (the “Class Members”). Exro, its CEO and the chair of Exro’s board of directors are among other defendants named in the statement of claim. The plaintiff says that the action arises out of the merger transaction between Exro Technologies and SEA Electric which closed on April 5, 2024, and alleges that the Class Member incurred damages or losses on their investments in Exro securities as a result of misrepresentations contained in a material change report filed by Exro on January 30, 2024. The plaintiff seeks certification of the action as a class action and his appointment as a class representative, a declaration that the January 30, 2024, contains misrepresentations, and a variety of remedies including an award of damages to the Class Members.

Exro disputes the allegations contained in the statement of claim, and intends to defend the claim vigorously.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc. is a leading clean technology company that has developed new generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility (Exro Coil Driver®) and stationary energy storage (Exro Cell Driver®), and act to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s annual information form for the financial year ended December 31, 2022, and financial statements and related MD&A for the financial year ended December 31, 2022, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.

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2024 British Business Awards winners announced in Shanghai

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Championing innovation, impact and business excellence across China

SHANGHAI, Nov. 28, 2024 /PRNewswire/ — After months of rigorous applications and judging, the winners of the 2024 British Business Awards were announced during the Gala Ceremony on 22nd November at the Kerry Hotel Pudong, Shanghai.

Organised by the British Chambers of Commerce across China, the biennial awards celebrate outstanding achievements and highlight the vital contributions of businesses and individuals fostering strong economic ties between the UK and China. Featuring nine categories, the 2024 Awards drew 110 impressive submissions from a wide range of industries. More than 50 outstanding businesses and individuals were shortlisted during the first-round judging. The newly introduced online voting element garnered nearly 1.16 million public views, further amplifying the reach and engagement of this momentum occasion.

Dame Caroline Wilson DCMG, British Ambassador to China, said: “Business is a cornerstone of the UK-China relationship, and the British Business Awards are a testimony to British companies’ significant contribution to China’s development. Their achievements, successes and thriving eco-system also help drive economic growth and innovation in the UK.”

Kirsten Johnston, Chair of the 2024 British Business Awards, shared in her welcome remarks: “The British Business Awards, now in their 16th year, reflect the unwavering commitment of both British and Chinese businesses to driving progress, fostering collaboration, and making a lasting impact on our economies and societies. As we unveil the winners, I would also like to extend a heartfelt thanks to our 38 judges, who collectively contributed nearly 2,000 volunteer hours. Their hard work and expertise were critical to ensuring a rigorous evaluation process.”

2024 British Business Awards Winners:

Innovation Award
– sponsored by The University of Manchester China Centre
Smiths Group

Sustainability Award
– sponsored by the University of Nottingham Ningbo China
Smiths Group

Social Impact Award
– sponsored by ASCEND IT
Reckitt China

Education Partnership Award
– sponsored by The British Council
University of Nottingham Ningbo China

Business Partnership Award
– sponsored by GE5 Education
Wellington College China

Chinese UK Alumnus Award
– sponsored by BritCham Shanghai
Yinpeng Bao
OxSyns Biotech

Inspiring Leadership Award
– sponsored by BritCham Shanghai
Capt. Simon Hibberd
S. B. Submarine Systems Company Limited

Outstanding Contribution to the UK Award
– sponsored by BritCham Shanghai & China Chamber of Commerce in the UK
Agricultural Bank of China London Branch

British Company of the Year Award
– sponsored by Smiths Group

[Large Company]
Jaguar Land Rover (China) Investment Co., Ltd.

[Medium Company]
Silverstream Technologies (Shanghai) Limited

[Small Company]
The Hutong Education

The Gala Ceremony was also graced by Matt Burney CMG, British Consul-General, Shanghai, Sohail Shaikh, British Deputy Trade Commissioner for China, Cat Sinclair-Jones, Director East China, British Council, Peter Burnett OBE, BBS, CEO, China Britain Business Council. They were joined by representatives from British and Chinese governments, businesses, and media organisations, alongside over 330 distinguished guests. The event was chaired by Jasmine Pang, Director of European Affairs at Phoenix TV.

2024 Awards are supported by the Department for Business and Trade (DBT), the British Council, China-Britain Business Council (CBBC), Scottish Development International, Invest Northern Ireland, and the Chinese Chamber of Commerce in the UK. For more information, please visit www.britishbusinessawards.org

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Willog Awarded ‘Minister of Land, Infrastructure, and Transport Citation’ at Korea Logistics Awards for the Third Consecutive Time

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SEOUL, South Korea, Nov. 28, 2024 /PRNewswire/ — Willog Co., Ltd. (Co-CEOs Ben S. Bae and Daniel J. Yun, www.willog.io), a supply chain monitoring solution provider, announced on the 4th of November that it was awarded the Minister of Land, Infrastructure, and Transport Citation at the 32nd Korea Logistics Awards held on Logistics Day, November 1st.

This marks the third consecutive win for Willog, following its recognition in 2020 and 2022.

The Korea Logistics Awards, hosted by the Ministry of Land, Infrastructure, and Transport, aims to strengthen the competitiveness of Korea’s logistics industry by recognizing individuals and organizations who have contributed to the industry’s growth. Award recipients are selected based on their contributions to logistics innovation, ecosystem development, overseas expansion, technology advancement, and overall impact on the logistics sector.

The award recognizes Willog’s contributions to advancing digitalization within the logistics industry through its proprietary supply chain monitoring solutions. These innovations support the government’s “New Growth 4.0” strategy and provide visibility throughout the logistics process, enabling cost savings, quality enhancement, and data-driven decision-making for companies.

Willog’s solutions, particularly in cold chain logistics, are lauded for reducing logistics costs and enhancing transportation quality through data insights. Willog’s monitoring solutions gather and analyze data on factors like temperature, humidity, and impact during transit, ensuring safe transport and storage of goods. This system enables companies to detect and preemptively address issues such as temperature fluctuations and damage, enhancing long-term transportation quality and operational efficiency.

Willog’s latest recognition with the Minister of Land, Infrastructure, and Transport Award solidifies its position as a dominant force in Korea’s cold chain industry. This prestigious award highlights Willog’s unmatched contributions to logistics digitalization and innovation, which have fundamentally shaped the country’s logistics landscape. Over the past years, Willog has become synonymous with reliability, cost-efficiency, and quality improvement in cold chain logistics across Korea, achieving unparalleled brand recognition and market leadership.

Building on its success in Korea, Willog is now expanding into the Asia-Pacific market, recognizing a regional need for advanced cold chain solutions. With strategic plans to fill this gap, Willog aims to become a prominent name globally, drawing interest from influential organizations and corporate partners.

“This 3rd consecutive award is a meaningful achievement for us,” said Co-CEO Daniel J. Yun. “Willog remains committed to driving innovation and supporting digital transformation within logistics.”

About Willog

Willog Co., Ltd. provides supply chain monitoring solutions that collect temperature, humidity, and impact data to ensure product safety during transportation. Its sensor devices capture critical data, which is then analyzed through a cloud-based platform. This enables real-time visibility, proactive issue resolution, and data-driven decision-making, helping companies minimize costs and maintain revenue by preventing damage and spoilage.

Since securing initial Series A funding in 2021, Willog has attracted further investment, including Series B in October 2023. It continues to expand globally, with partnerships in the United States, Singapore, Japan, and more countries in Asia Pacific region

Media Contact
Willog Co., Ltd.
Team Leader: Helen Shin
helen@willog.io

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SOURCE Willog

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Grow with Xiaomi: Building a Sustainable Open Ecosystem for Apps, Services and Contents

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SINGAPORE, Nov. 28, 2024 /PRNewswire/ — The Xiaomi Internet Partner Conference (MIPC Singapore 2025) successfully concluded on November 27th in Singapore, bringing together over 100 leading partners from across the industry.

During the conference, Mr. Qiang Song, General Manager of Xiaomi’s International Internet Business Department, outlined the department’s business strategy. Through its extensive device network and HyperOS platform, Xiaomi enables seamless connectivity across user scenarios. This foundation supports a comprehensive and efficient application and game ecosystem, alongside content and service solutions, enhancing user experience. The company offers partners comprehensive business solutions to accelerate growth, including advertising-based user acquisition, in-app ad monetization, and game publishing services.

In the realm of apps and games distribution, Xiaomi’s official app store, GetApps, is now available in over 100 markets, with over 260 million monthly active users and more than 30 million daily installations.

Beyond popular applications, GetApps offers curated content and exclusive discounts of up to 10% on in-app purchases. For developers, it provides an open ecosystem powered by Xiaomi’s proprietary OEM capabilities. The platform’s Minicard feature enables frictionless app distribution across Xiaomi devices through end-to-end optimization, helping developers achieve 26% higher conversion rates and a 20% increase in Average Revenue Per User (ARPU) when integrated with Xiaomi Payment Solution for monetization.

In content and service distribution, Xiaomi has established a new content ecosystem featuring Granular Services, powered by Xiaomi HyperOS for instant accessibility. By deconstructing apps into core service modules, Xiaomi allows users to add these services as widgets directly to their home screens with a single tap. These widgets provide live previews with real-time status updates, eliminating the need to download full apps. Through a professional widget store operating across various scenarios, users can access developers’ core services more quickly and conveniently, significantly enhancing conversion rates.

Xiaomi also excels in digital marketing through its OEM native ad experience and AI-powered platform. Using OS-level data, intelligent algorithms, and a wide range of touchpoints, developers can execute highly effective user acquisition campaigns on Xiaomi’s platform. These unique capabilities helped secure Xiaomi’s No. 3 ranking in the 2024 AppsFlyer Power Ranking for Android Non-Gaming.

For monetization, Xiaomi maximizes the commercial value of applications through the Columbus Monetization Platform. This platform helps developers boost in-app advertising revenue by combining premium direct clients with demand-side platforms, providing SDK integration for standard ad formats and processes, and offering support from a dedicated team of specialists. It has successfully integrated three mainstream mediation platforms and collaborates with over 1,500 apps across 30 regions. Combined with on-device capabilities such as Minicard, the platform delivers improved monetization performance, achieving a 10% increase in Effective Cost Per Mille (eCPM).

Xiaomi’s overseas internet business continues to show strong momentum. According to Xiaomi Corporation’s Q3 2024 quarterly results, revenue from Xiaomi’s internet services reached a record high of RMB 8.5 billion, with a gross profit margin of 77.5%. Notably, overseas internet revenue grew by 18.3% year-over-year to RMB 2.7 billion, also reaching a historical high, accounting for 32.5% of the total internet services revenue.

“Through our core system capabilities, we remain committed to building a sustainable open ecosystem for apps, services, and content that delivers optimized user experiences and efficient user acquisition, while offering partners competitive monetization opportunities,” said Mr. Qiang Song, “Staying true to our user-centric vision and ‘Grow with Xiaomi’ strategy, we will continue to create value and explore boundless possibilities for our users and partners.”

About Xiaomi Corporation

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world’s leading smartphone companies. In September 2024, global monthly active users ( “MAU”) reached 685.8 million. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, reached 861.4 million smart devices connected to its platform (excluding smartphones, laptops and tablets) as of September 30, 2024. Xiaomi products are present in more than 100 countries and regions around the world. In August 2024, Xiaomi was included in the Fortune Global 500 list for the sixth year in a row.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

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SOURCE Xiaomi Corporation

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